ANB Bank Sells 997 Shares of Adobe Inc. $ADBE

ANB Bank lowered its stake in Adobe Inc. (NASDAQ:ADBE) by 45.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,211 shares of the software company’s stock after selling 997 shares during the period. ANB Bank’s holdings in Adobe were worth $469,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Adobe in the first quarter worth about $25,000. Flaharty Asset Management LLC bought a new position in shares of Adobe in the 1st quarter worth approximately $29,000. HHM Wealth Advisors LLC purchased a new position in shares of Adobe in the 1st quarter valued at approximately $30,000. Nexus Investment Management ULC bought a new stake in shares of Adobe during the second quarter valued at approximately $31,000. Finally, Barnes Dennig Private Wealth Management LLC grew its stake in Adobe by 44.9% in the second quarter. Barnes Dennig Private Wealth Management LLC now owns 100 shares of the software company’s stock worth $39,000 after purchasing an additional 31 shares during the period. 81.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ADBE shares. Cowen restated a “hold” rating on shares of Adobe in a report on Wednesday, October 29th. Melius cut Adobe from a “hold” rating to a “sell” rating and set a $310.00 price target on the stock. in a research report on Monday, August 11th. JMP Securities restated a “market perform” rating on shares of Adobe in a research note on Friday, September 12th. Citigroup reduced their price objective on Adobe from $450.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, September 11th. Finally, Mizuho downgraded Adobe from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $433.41.

Insider Activity

In other news, CAO Jillian Forusz sold 149 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $337.88, for a total value of $50,344.12. Following the transaction, the chief accounting officer owned 3,426 shares in the company, valued at $1,157,576.88. This represents a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.16% of the stock is currently owned by corporate insiders.

Adobe Trading Down 0.7%

NASDAQ:ADBE opened at $331.11 on Friday. The company has a market cap of $138.60 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.51 and a beta of 1.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.53. The company has a 50 day simple moving average of $346.61 and a two-hundred day simple moving average of $367.12. Adobe Inc. has a 12 month low of $323.03 and a 12 month high of $557.90.

Adobe (NASDAQ:ADBE) last released its quarterly earnings results on Thursday, September 11th. The software company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.13. Adobe had a return on equity of 57.54% and a net margin of 30.01%.The firm had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Adobe has set its FY 2025 guidance at 20.800-20.850 EPS. Q4 2025 guidance at 5.350-5.400 EPS. Research analysts forecast that Adobe Inc. will post 16.65 earnings per share for the current year.

About Adobe

Adobe Inc, together with its subsidiaries, operates as a diversified software company worldwide. It operates through three segments: Digital Media, Digital Experience, and Publishing and Advertising. The Digital Media segment offers products, services, and solutions that enable individuals, teams, and enterprises to create, publish, and promote content; and Document Cloud, a unified cloud-based document services platform.